UPDATE: Goldman Sachs Lowers PT to $13 on JDS Uniphase on Disappointing FQ2 Guidance

Goldman Sachs reiterated its Buy rating on JDS Uniphase

but reduced its price target from $14 to $13 following quarterly results. Goldman Sachs commented, "We are lowering our price target to $13 from $14 given disappointing F2Q guidance showing that macro uncertainty is having an even greater impact on JDSU's customers than we had expected. We maintain our Buy rating as we believe guidance is sufficiently conservative given that it embeds no expectation for a 4QCY12 carrier capex budget flush." JDS Uniphase closed at $10.33 on Friday.